Bureau adjusters - Study guides, Class notes & Summaries

Alabama Adjusters License Latest Update Graded A+ Accident Insurance Covers expenses associated with a covered accident and can extend to ambulance and emergency room expenses, intensive care, and hospital costs. Accident insurance also provides for loss of income, and a death benefit if injuries prove fatal Accumulated Depreciation The total decrease in an item's value over a period of time. Formula: (annual depreciation x number of years used). Subtract this number from the ite...

Accumulated Depreciation correct answers The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) correct answers A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion correct answers One of the characteristics of an insurance contract. Means that one party (the insurer) sets the ...

Alabama Adjusters License Exam Questions and Answers | 100% Correct (Verified Answers) Latest Update 2024/2025. Accident Insurance - CORRECT ANSWERS Covers expenses associated with a covered accident and can extend to ambulance and emergency room expenses, intensive care, and hospital costs. Accident insurance also provides for loss of income, and a death benefit if injuries prove fatal Accumulated Depreciation - CORRECT ANSWERS The total decrease in an item's value over a period of ...

Texas All Lines Adjuster Test with Verified Answers Updated 2024 Accumulated Depreciation The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) A valuation method used by insurers to reflect an item's current ...

Texas All Lines Adjuster Test 2024 Verified Questions Graded A+ Accumulated Depreciation The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) A valuation method used by insurers to reflect an item's current m...

Actual Cash Value (ACV) - Answer A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - Answer Characteristic of an insurance contract. Means that one party (the insurer) sets the terms, and the other (the policyholder) can "take it or leave it." Adjuster - Answer An agent who, for compensation, processes insurance claims. Can represent either the in...

Texas All Lines Adjuster Test 2024 Measures taken by an insurance company to ensure that their exposure is not too high and to control the effect of a loss; for example, an insurer might charge higher premiums to drivers who have received speeding tickets. - correct answer Risk Management A federal agency under the USDA that administers the Federal Crop Insurance Program. - correct answer Risk Management Agency Groups of people with similar insurance needs who form an organization t...

Accumulated Depreciation - ANSWER-The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - ANSWER-A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - ANSWER-One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other ...

Accumulated Depreciation - Answer- The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - Answer- A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - Answer- One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the oth...

Texas All Lines Adjuster 2024 License Test – With Questions & Answers (Rated A+) Texas All Lines Adjuster 2024 License Test – With Questions & Answers (Rated A+) Accumulated Depreciation - ANSWER - The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - ANSWER - The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charg...